Community management companies are an investment. Your Board will need to pay money to bring in outside experts to help run your community. This expense will need to be baked into your budget. However, community management is well worth the effort and money.
When considering a community management company, you need to not just focus on the cost. Instead, you should consider what the company can do for you. In the Greater Pittsburgh area, community management is a great financial strategy.
Five Reasons Community Management is a Good Financial Strategy
Wondering how spending money on community management can save you money in the long run? Here are five reasons why community management is a good financial idea.
Comprehensive financial help
First, and most importantly, community management provides comprehensive financial help to your community. At ACRI Community Realty, our team works with condominium associations and homeowner’s associations (HOAs). In our work with these communities, we provide bookkeeping and accounting services, budget planning, long-term planning, and cash flow analysis. And that’s just the beginning of the financial help we provide.Boards are almost always made up of volunteers. Unless you have a financial expert on your Board, you could use the financial help provided by a community management company. The budgeting and planning help alone will erase the cost of the service.
Another important type of help that community management companies provide is legal. Legal help may not seem to have anything to do with financial strategy, but it does. Experienced community managers will understand the rules, regulations, and laws in your area. They can help your community avoid any pitfalls, which may result in fines or other financial problems.
Pro-active maintenance and inspections
Association maintenance oversight is one of the services we offer at ACRI Community Realty. When you hire us, we will take over the running of your maintenance programs and your vendor relationships.Having an objective third party that is responsible for maintenance and inspections will ensure your community remains in good health. Again, you will be less likely to accrue fines because of code violations. Additionally, you will not have to spend a lot of money fixing major problems, since any issues will be caught early. This will save you money in the long run.
Raises property values
All of this maintenance and financial planning will go a long way towards making your community stand out. The more people who want to live in your HOA or condominium, the higher the property values. This is why we have community organizations after all. Residents want to protect or increase the value of their property.
Keeps you organized
Another essential task that a community management company undertakes is organization. It can be hard for a group of volunteers to dedicate enough time to organization. Everyone has their own lives, jobs, and families. But, at a community management company like ACRI Community Realty, community management and organization is our job. Our managers do whatever it takes to keep you organized and the value of your community rising.
Contact ACRI today today to learn how we can help your HOA or condominium association.